Ethereum outperforms as ETH treasury strategy gains momentum
📈 Ethereum outperforms – ETH is up 6% in 24 hours, bringing its weekly gains to over 20%, outpacing Bitcoin.
🏦 ETH treasury investments – Major firms like SharpLink and Bit Digital are shifting treasury strategies to Ethereum, betting on its long-term role in finance.
🐻 Altcoin movers – Berachain (BERA) among leaders in the altcoin rally with a 12% overnight gain.
🇺🇸 Crypto Week continues – The US House is debating landmark crypto bills, which could bring further regulatory clarity.
There’s been an uptick across the broader crypto market after yesterday’s brief dip. Bitcoin has gained around 1.2% over the past 24 hours, currently trading at roughly $118,000, but the big news is Ethereum (ETH) outperforming other large caps. The original smart contracts crypto is up more than 6%, bringing its weekly gains to over 20%. It’s also a strong day for some altcoins, with Berachain (BERA) jumping more than 12% overnight.
Ethereum’s price surge coincides with growing ETH treasury investments. Companies are now applying the same strategy to Ethereum as some have with Bitcoin, adding it to their corporate treasuries. SharpLink, a gaming platform led by Joseph Lubin, has become a major ETH accumulator, acquiring over 255,000 ETH, one of the largest corporate ETH holdings. Nasdaq-listed Bit Digital has also fully shifted its treasury to Ethereum, selling its Bitcoin holdings and using $172 million raised to purchase over 100,000 ETH. CEO Sam Tabar says the company believes Ethereum’s programmable design, adoption growth, and staking yield model could redefine the financial system.
Meanwhile, investors continue watching developments in the US during what policymakers have dubbed “Crypto Week.” The House of Representatives is debating three key crypto bills that could reshape regulation, with analysts noting that regulatory clarity may further unlock institutional investment in the space.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.74 trillion, up 2.13% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $118,228 up 1.5% in the last 24 h
Daily high: $118,315
Daily low: $116,094
📈 S&P 500 ↘️
SPY is currently down about 0.4% since yesterday’s close.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index stands at 68/100, indicating Greed among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 54, an indication of the broader profit-taking in markets.
Data is accurate as at 07:54 GMT, 16 July.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
